Middle East Conflict Impact Intensifies: May CPI Annual Growth Rate Expands to 2.2%
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Taiwan's Directorate-General of Budget, Accounting and Statistics (DGBAS) announced that the annual Consumer Price Index (CPI) growth rate for May was 2.2%, up from 1.74% in April, breaking through the 2% inflation alert threshold. The main cause was the impact of the Middle East conflict on global energy supply, driving up international oil prices, with fuel costs surging 20.09%. The transportation and communication category saw the most significant increase at 4%. Core CPI rose 2.12% year-on-year, also higher than in April.